Section 92. (a) There shall be a board of real estate appraisers which shall consist of 9 members to be appointed by the governor, 1 of whom shall be a licensed real estate broker, 1 of whom shall be a member of the general public pursuant to section 9B, 1 of whom shall be a member of the banking industry, 1 of whom shall represent an appraisal management company and 5 of whom shall be real estate appraisers who are licensed or certified pursuant to sections 173 to 195, inclusive, of chapter 112.

(b) The term of each member shall be 3 years. Upon expiration of each term, an appointed member of the board shall continue to hold office until the appointment and qualification of that member’s successor. A member may be reappointed but no person shall serve as a member of the board for more than 2 consecutive terms. The governor may remove a member for cause.

(c) Each member of the board shall be paid for expenses actually incurred in the performance of their official duties.

(d) The board shall annually elect a chairperson from among its members.

(e) The board shall hold not less than 6 meetings each year and may hold special meetings as the board deems necessary at a time and place to be determined by the board.